Nature and Concepts of Management – Vocabulary Review

Vocabulary flashcards covering key terms, roles, and functions discussed in the lecture on management and managers.

Manager

A decision-maker who links the company to consumers and employees, motivates subordinates, and ensures the welfare of the unit assigned to them.

Management

The process of getting work done through others by aligning all members toward the organization’s goals through careful planning, organizing, staffing, leading, and controlling.

Effectiveness

Executing and accomplishing the right things to meet high standards—doing the right thing.

Efficiency

Producing maximum output with minimum input—doing things right.

Planning

The managerial function that sets goals, defines scope and limitations, evaluates scenarios, and prepares both regular and contingency plans.

Contingency Plan

A special type of plan created to address unexpected or adverse scenarios identified during planning.

Organizing

Arranging resources, tasks, and structures to achieve planned targets, including establishing policies and allocating work.

Organizational Structure

The formal layout of positions and authority relationships that shows the chain of command in a company.

Chain of Command

The reporting cycle within an organization that specifies who reports to whom and clarifies hierarchy.

Staffing

The managerial function concerned with selecting, hiring, training, and motivating employees to fill organizational roles.

Selection Process

Examinations, interviews, and other techniques that narrow applicants to those best suited for vacancies.

Hiring Process

The stage where successful candidates receive job offers, negotiate contracts, and formally join the company.

Training and Development

Programs designed to enhance employees’ competencies and support their career growth within the company.

Leading

Guiding and motivating subordinates by example, setting rules and standards, and providing inspiration to achieve goals.

Leadership Styles

Distinct approaches managers use to lead, ranging from strict but caring to lenient yet authoritative.

Motivation

Incentives, praise, recognition, and other practices managers use to encourage a positive work outlook.

Controlling

Monitoring performance, mediating problems, and steering the unit toward objectives while anticipating outcomes.

Mediator Role

The aspect of controlling where a manager resolves issues between the firm and stakeholders, such as customer complaints.

Decision-Making

Selecting the best course of action among alternatives; a critical activity in every managerial function.

Goal-Directed Influence

The manager’s ability to inspire and align employees toward achieving organizational objectives.

Multifaceted Welfare

The broad responsibility managers have to look after the physical, emotional, and professional well-being of their unit.

Bridge Between Company and Employees

The role of managers as communicators who relay company objectives to employees and employee needs to upper management.